The International Monetary Fund (IMF) should lead the way in global regulation of crypto assets, India’s Finance Minister Nirmala Sitharaman has urged IMF Managing Director Kristalina Georgieva at their meeting in New Delhi.
See related article: Crypto regulation has to ‘take its time’: India FM Nirmala Sitharaman
At their meeting on Wednesday, they discussed the significance of regulating crypto assets and the need for a globally coordinated, synchronized approach on the issue.
They also expressed concern over key downside risks to the global economy and the cross-border effects given a volatile geopolitical situation and tighter financial conditions.
India on April 1 introduced a flat 30% tax on all crypto income, and a 1% tax deducted at source on transactions that exceed 10,000 Indian rupees (US$125) from July 1.
Aside from digital assets and regulation, the leaders also discussed the upcoming Group of 20 (G-20) presidency and the IMF’s support of India for the role, according to a Twitter post by India’s Ministry of Finance.
The 17th meeting of the G-20 will take place in Bali, Indonesia across Nov. 15-16, with expected attendance by Russia and China.
Nirmala Sitharaman introduced a 30% flat tax on all crypto income from April 1, and a 1% tax deducted at source on transactions above 10,000 Indian rupees (US$125) from July 1.
See related article: India says a crypto ban would require international collaboration
In an internal email last week to U.S. employees and some international staff, McDonald's asked them to work from home from Monday through Wednesday so it can deliver staffing decisions virtually, the report said. "During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization," the Chicago-based company said in the message viewed by the Journal. McDonald's also asked employees to cancel all in-person meetings with vendors and other outside parties at its headquarters, the report added.
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Everyone invests with the goal of generating big returns but it’s easy to get distracted by all the short-term noise generated on Wall Street. The key to investing success, according to Raymond James CIO Larry Adam, is to follow a few simple rules. One is to realize past performance does not necessarily guarantee future success. “History has shown that no single asset class has been a consistent winner year after year,” says Adam, “just as no single asset class remains at the bottom.” Secondly,
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Dow Jones futures rose Monday ahead of key economic data. Tesla dropped after Q1 deliveries missed estimates.
(Bloomberg) — The decision by the Organization of Petroleum Exporting Countries and its allies to slash its oil output came as a huge surprise to the market, given earlier rhetoric from group leader Saudi Arabia that it would stand pat on production. The move has brought concerns around inflationary pressures back to the fore, adding to worries that higher prices and an aggressive monetary tightening by central banks could tip the global economy into recession. Most Read from BloombergOPEC+ Mak
The Republican 2024 presidential hopeful is drawing flak over the aerospace company’s role in her political career.
Be ready to take notes from Warren Buffett. More on that, and what else to know in markets on Monday, April 3, 2023.
The Macau revenue tally was the highest since January 2020, just before Covid-19 lockdowns began. Gaming stocks gained.
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Oil prices surged on Monday after Saudi Arabia and other OPEC+ producers announced a surprise cut in their output target, a move that rippled through stock markets, though the dollar failed to hold onto its early gains. Brent crude futures looked set for its biggest daily percentage gain in around a year, jumping 5.77% to $84.52 a barrel on news OPEC+ would aim to cut output by around 1.16 million barrels per day. Goldman Sachs lifted its forecast for Brent to $95 a barrel by the end of the year and to $100 for 2024 following the oil output change, which was announced on Sunday, a day before a virtual meeting of an OPEC+ ministerial panel including Saudi Arabia and Russia.
According to a recent report from the Wall Street Journal, McDonald's Corp is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about layoffs.
Strong iPhone demand in Asia and an acceleration in services revenue bode well for Apple stock, analysts at Wedbush say.
The rise of home working has left defence companies unable to hire crucial talent as they attempt to counter Russia and China, one of the industry's largest players has said.
Tesla misses delivery estimates. No, Tesla beats delivery estimates. Nothing is ever easy with Tesla these days.
